A firm that seeks to maximize its revenue is most likely to adhere to which of the following?
A) MR = MC
B) MR = 0
C) MR = P
D) MR < MC
B
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Which of the following is a common method used by government to cope with the situation in which production of a good creates an external cost?
A) removing property rights B) subsidizing production C) marketable permits D) lottery E) vouchers
The Community Charge was a poll tax to fund local government in the United Kingdom, instituted in 1989 by the government of Margaret Thatcher. It replaced the rates that were based on the national rental value of a house
It was a fixed tax per adult resident. Is this tax a proportional, progressive or regressive tax? Explain your answer.
The term efficiency involves achieving a goal as:
A. well as possible. B. quickly as possible. C. cheaply as possible. D. steadily as possible.
If the real GDP in Haiti grew at an annual rate of 2 percent and the country's population grew at an annual rate of 4 percent, how long will it take for GDP per capita to double?
A. Approximately 18 years. B. Approximately 36 years. C. It will never double because population is increasing more rapidly than real GDP. D. Approximately 72 years.